US And Iceland Sign Trade And Investment Agreement

by Glen Shapiro, LawAndTax-News.com, New York

16 January 2009

Assistant US Trade Representative for Europe and the Middle East Chris Wilson and Icelandic Minister of Industry and Energy Össur Skarpheðinsson on Thursday signed the US-Iceland Trade and Investment Cooperation Forum Agreement, which will provide a forum for expanding and strengthening bilateral trade and investment relations between the United States and Iceland.

“Today’s signing of the Trade and Investment Cooperation Forum Agreement is a part of a comprehensive US effort to support the Icelandic Government, and will provide a vehicle for deepening and broadening already strong US-Icelandic economic relations,” Wilson said.

“We will use the Forum to pursue initiatives in specific areas, with a view to concluding agreements or other arrangements that offer real opportunities for workers, farmers, service providers, manufacturers and consumers in our two countries. We will continue our dialogue with US and Icelandic stakeholders as we develop an initial work program for the Forum. We will also continue our already close cooperation in the World Trade Organization,” continued Wilson.

Two-way goods trade between the United States and Iceland was USD835m in 2007. US goods exports to Iceland in 2007 totaled USD630m, including aircraft, inorganic chemicals, vehicles, and machinery. US exports of agricultural products to Iceland totaled USD19m.

Recommended